Nordic private equity house Polaris has picked up a 51% stake in Swedish activewear retailer Stronger at an enterprise value of more than SEK1bn, AltAssets can reveal.
Stronger, which specialises in direct-to-consumer sales of exercise and leisurewear for women, posted sales of more than SEK300m ($36m) last year.
Last year the company delivered more than half a million leggings to customers across the globe, with 60% of sales coming from outside of the Swedish market.
Germany and Benelux are Stronger’s largest markets outside of Sweden, with the UK and US among its fastest-growing markets.
Polaris partner Johan Pernvi said, “Stronger is a well-managed and profitable growth company, and we are impressed with what the founders and management have built; a well-thought-out business model and brand – which has led to the tremendous development of the company.
“Stronger operates in an attractive growth market driven by an increased focus on health and fitness, and we see great potential for further growth – primarily through continued international expansion.”
Polaris picked up DKK3.3bn (€443m) for the final close of its fourth flagship fund back in 2016.
The firm focuses on lower mid-market in Denmark and Sweden, with turnover of between €20m and €150m.
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Source: https://www.altassets.net/private-equity-news/by-news-type/deal-news/polaris-buys-into-swedish-activewear-brand-stronger-at-over-sek1bn-valuation.html
